NN Inc (NNBR) Legion Partners affiliate awarded 49,079 restricted shares
Rhea-AI Filing Summary
White Raymond T. reported acquisition or exercise transactions in this Form 4 filing.
NN Inc. director-related entities reported an equity award and existing holdings in Common Stock. On March 18, 2026, 49,079 shares of restricted Common Stock were granted at $0.00 per share, fully vesting on March 18, 2027. The economic interest in this award belongs to Legion Partners Asset Management, LLC, which receives securities granted to director Raymond T. White in respect of his Board position.
The filing also reports indirect holdings in NN Inc. Common Stock by affiliated Legion funds and entities, including 3,519,420 shares by Legion Partners, L.P. I, 395,144 shares by Legion Partners, L.P. II, 877,065 shares by Legion Partners Special Opportunities, L.P. XI, and 300 shares by Legion Partners Holdings, LLC, with various reporting persons potentially deemed beneficial owners through control relationships.
Positive
- None.
Negative
- None.
Insights
Routine restricted stock grant to activist-affiliated director, with economic interest at Legion Partners.
The filing shows a grant of 49,079 restricted NN Inc. shares on March 18, 2026, vesting on March 18, 2027. This is coded as an A-type transaction, meaning a grant or award rather than an open-market purchase.
Footnotes clarify that Legion Partners Asset Management, LLC holds all direct economic interest in shares granted to director Raymond T. White for his Board service. White and other reporting persons broadly disclaim beneficial ownership beyond their pecuniary interests, indicating this is structured as firm-level, not personal, compensation.
The same structure applies to large indirect positions held through Legion Partners I, II, and Special Opportunities funds and Legion Partners Holdings. These positions suggest substantial exposure to NN Inc. via affiliated investment vehicles, but this grant itself is a small, routine governance-related award rather than a directional market trade.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 49,079 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- This Form 4 is filed jointly by Legion Partners, L.P. I ("Legion Partners I"), Legion Partners, L.P. II ("Legion Partners II"), Legion Partners Special Opportunities, L.P. XI ("Legion Partners Special Opportunities"), Legion Partners, LLC ("General Partner"), Legion Partners Asset Management, LLC ("Legion Partners Asset Management"), Legion Partners Holdings, LLC ("Legion Partners Holdings"), Christopher S. Kiper and Raymond T. White (collectively, the "Reporting Persons"). Each Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein, and this report shall not be deemed to be an admission that any Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose. Represents restricted stock which fully vests on March 18, 2027. Mr. White serves on the Board of the Issuer as a representative of Legion Partners Asset Management and its affiliates. Mr. White does not have a right to any economic interest in securities of the Issuer granted to him by the Issuer in respect of his Board position, except to the extent of his role as a Managing Director of Legion Partners Asset Management. Legion Partners Asset Management is entitled to receive all of the economic interest in securities granted to Mr. White by the Issuer in respect of Mr. White's Board position. Mr. White disclaims beneficial ownership of the Issuer's securities to which this report relates and at no time has Mr. White had any economic interest in such securities except any indirect economic interest through Legion Partners Asset Management and its affiliates, entities in which Mr. White has a controlling interest and investment control. The securities described in footnote (2) represent securities in which Legion Partners Asset Management has all of the direct economic interest. Legion Partners Holdings is the sole member of Legion Partners Asset Management and each of Messrs. Kiper and White are Managing Directors of Legion Partners Asset Management. As a result of these relationships, Legion Partners Holdings and Messrs. Kiper and White may be deemed to beneficially own the securities owned directly by Legion Partners Asset Management. Securities owned directly by Legion Partners I. General Partner is the general partner of Legion Partners I, Legion Partners Asset Management is the investment advisor of Legion Partners I, Legion Partners Holdings is the sole member of Legion Partners Asset Management and managing member of General Partner, and each of Messrs. Kiper and White are managing directors of Legion Partners Asset Management and managing members of Legion Partners Holdings. As a result of these relationships, General Partner, Legion Partners Asset Management, Legion Partners Holdings and Messrs. Kiper and White may be deemed to beneficially own the securities owned directly by Legion Partners I. Securities owned directly by Legion Partners II. General Partner is the general partner of Legion Partners II, Legion Partners Asset Management is the investment advisor of Legion Partners II, Legion Partners Holdings is the sole member of Legion Partners Asset Management and managing member of General Partner, and each of Messrs. Kiper and White are managing directors of Legion Partners Asset Management and managing members of Legion Partners Holdings. As a result of these relationships, General Partner, Legion Partners Asset Management, Legion Partners Holdings and Messrs. Kiper and White may be deemed to beneficially own the securities owned directly by Legion Partners II. Securities owned directly by Legion Partners Special Opportunities. General Partner is the general partner of Legion Partners Special Opportunities, Legion Partners Asset Management is the investment advisor of Legion Partners Special Opportunities, Legion Partners Holdings is the sole member of Legion Partners Asset Management and managing member of General Partner, and each of Messrs. White and Kiper are managing directors of Legion Partners Asset Management and managing members of Legion Partners Holdings. As a result of these relationships, General Partner, Legion Partners Asset Management, Legion Partners Holdings and Messrs. White and Kiper may be deemed to beneficially own the securities owned directly by Legion Partners Special Opportunities. Securities owned directly by Legion Partners Holdings. As managing members of Legion Partners Holdings, Messrs. Kiper and White may be deemed to beneficially own the securities owned directly by Legion Partners Holdings.
